The surge in hybrid vehicles is predicted to continue across the region as consumers look for lower consumption and emitting vehicles.
GlobalData, a leading data and analytics company predicts the hybrid EV powertrains will experience a annual growth rate of 5.9% over the next five years from 2024 to 2029 across the Asia Pacific region.
The region is already a global leader in the adoption of hybrid vehicles China, Japan, and India leading the way as consumers recognise them as a practical and affordable alternative to ICE and full EVs.
In Australia, hybrid sales grew by 33.49 per cent, with the hybrid market share rising from 11.95 per cent to 14.93 per cent in Q2 2024.
This precedes the introduction of the New Vehicle Efficiency Standard in 2025 which will create more incentives for low emissions cars.
Toyota, long a pioneer in the hybrid technology, has now grabbed top spot in the new vehicle charts with its RAV4 of which more than 90 per cnet are hybrids.
In another sign of how hybrids will shape the future car parc and what repair workshops see, the NVES is aiming for 30 percent of new vehicles t be full EVs by 2029.
Five year predictions
GlobalData’s latest report, “Global Sector Overview & Forecast: Hybrid Electric Vehicle Powertrains – Q2 2024” shows 10.0 million hybrids will be sold across the Asia Pacific region in 2024 and is expected to reach 13.3 million vehicles in 2029.
GlobalData, Automotive Analyst Madhuchhanda Palit says the popularity was being driven by the vailabel technology meeting consumer needs.
“Despite numerous government initiatives aimed at encouraging consumer adoption of EVs, there has been a significant increase in the popularity of hybrid vehicles. This trend can be attributed to various factors, such as the minimal need for consumers to alter their driving habits.
Meeting the distance need
“Hybrid vehicles, which utilise both gasoline or diesel engines and electric motors, can operate solely on electric power for shorter distances. This feature is particularly advantageous in urban stop-and-go traffic, offering the benefit of zero tailpipe emissions. Additionally, the ICEs in hybrid vehicles can be used for longer distances, thus reducing the need for consumers to significantly change their regular driving patterns.”
The lag in charging infrastructure, despite some government commitment, is causing consumers to look at what best suits their needs and OEMs are shaping their innovation efforts to meet the demand. OEMs are competing to introduce innovations that improve vehicle performance and sales, he says.
“Predictive energy management, a maturing innovation that has become well-established within the industry, involves the use of control systems and methods to optimize energy management in electric vehicles. The control system employs predictive algorithms to manage energy consumption, optimizing the use of the electric motor and combustion engine.
Key players in the sector, such as Toyota, Hyundai, and Volkswagen, are driving these innovations.
“For example, Toyota has recently filed a patent for a hybrid vehicle control device that performs a reduction process to limit fuel cuts in the engine and an increase process to raise the engine’s rotational speed during deceleration. These advancements underscore the industry’s commitment to enhancing the efficiency and appeal of hybrid vehicles,” Palit says.
“Manufacturers are adjusting to more stringent emission regulations, and consumers are increasingly considering hybrid vehicles as a viable alternative, being cautious of transitioning to BEVs due to inadequate infrastructure. In addition, the higher cost of BEVs is also weighing in on the decision making of customers in the APAC region.
“While governments commit to enhancing the EV charging infrastructure, the development of a comprehensive network remains a work in progress. In the interim, the rising popularity of hybrid vehicles is prompting manufacturers to pursue innovation, leading to improvements in efficiency and performance that are stimulating market expansion.”